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Institutional Cost Transfer Policy for Sponsored Research Grants

Effective Date: March 1, 2011

Last Reviewed: July 1, 2015

Review by: January 1, 2016

Purpose

This policy is issued to promote the integrity of all charges transferred to and/or
from a sponsored project subsequent to the initial recording of the charge in the
accounting system. Proper management of funds is essential to uphold the fiduciary
responsibilities of Meharry Medical College. Federal agencies and other sponsors may
regard the following activities as indicators of inadequate control systems:

Frequent cost transfers

Late cost transfers

Inadequately documented or explained cost transfers

This policy explains why the need for a cost transfer arises, the requirements for
allowing a cost transfer, and the method for processing cost transfers through the
accounting system.

Policy Statement

It is the policy of Meharry Medical College that costs should be charged to the appropriate
sponsored project when first incurred, however there are circumstances in which it
may be necessary to transfer expenditures to and/or from a sponsored project after
the original recording of the charge in the accounting system.